Are you a Golden CO teacher who is looking to buy a home? This article will help you learn about the substantial teacher loan in Golden, CO.
You can save you thousands or tens of thousands on your home purchase with these three programs in Golden. These programs are the Homes for Heroes program, the Golden Home Buyer Tax Credit, or MCC, and the teacher next door program.Homes for Heroes
In order to honor heroes in our community, we offer the Homes for Heroes program, for those who give so much to make Golden an incredible place to live. Golden Teachers are one of the groups that we honor through this program.
Teachers receive discounted closing costs through this program. Also, if the hero uses other providers in the HFH network such as Homes for Heroes Realtors, home inspectors, contractors, etc, they can receive additional discounts.You can receive discounts when either buying or refinancing.
Colorado Home Buyer Tax Credit
The tax credit, also called the Mortgage Credit Certificate (MCC) is also available for teachers in Golden. The MCC is a program that is available only on a home purchase transaction (or a refinance if you have an existing MCC on your current loan).
The tax credit will save you, on average, between $125-$250 per month off your mortgage interest for the life of your loan, translating to tens of thousands of dollars in savings! To qualify for the MCC tax credit, you must fall under your county income limits and be either a first time home buyer, Veteran, OR purchase a home in a "targeted" area.This means that many Golden Teacher mortgage loans qualify for the tax credit!
Colorado Teacher Next Door Program
The teacher next door program, or Good Neighbor Next Door, is a program to help teachers purchase homes at a discount. You must purchase a home in a targeted area (most targeted areas qualify for the tax credit too!), and essentially purchase the home at 50% of the list price.
You will have a "silent" 2nd mortgage for the remainder of your home purchase, meaning there is no payment or interest on this portion of your loan. After 3 years the 2nd mortgage will be forgiven, and you will be left with substantial equity in your home.
These are the three best Golden teacher mortgage loans and discounts available. It is important to work with a lender who understands the unique aspects of teacher loans in Golden, and has access to all of these programs. Our in-house underwriting and funding will assure an on-time closing and the best service.
Call RJ Baxter in the office at 303-670-0137 to see what you qualify for or visit us at www.cohomesandloans.com. We will provide honest answers to your questions about Golden teacher loans!
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